Pan-European cash equities exchange Aquis Exchange PLC unveiled plans to establish a new trading venue in Paris in preparation for the U.K.'s departure from the European Union.
The U.K.-based exchange services group, which recently floated on the London Stock Exchange's AIM market, said it filed applications with French regulator AMF and prudential supervisor ACPR as part of the move. The new company, Aquis Exchange SA, will open an office in the French capital and will be classified as an investment firm authorized to operate a multilateral trading facility, according to a Sept. 10 statement.
Earlier in August, interdealer broker TP Icap PLC announced plans to base its EU business in Paris after Britain exits the bloc March 29, 2019. In July, London Stock Exchange Group PLC said it applied for several trading licenses in the Netherlands, while another exchange, Cboe Global Markets Inc., also confirmed plans to establish a new trading venue in the country.